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Market Conditions in Kiawah Island : Real Estate Advice

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  • Local Info0
  • Home Buying52
  • Home Selling0
  • Market Conditions7

Activity 7
Mon Jan 15, 2018
James Schiller answered:
Hi Captjra

At the bottom of this page http://homesforsalelistings.net/real-estate/sc/kiawah-island

are the last 5 years sales data with the answers you're looking for.
0 votes 1 answer Share Flag
Wed Dec 4, 2013
Michael Schumpert answered:
It looks like the Seller has been trying to sell this home at about the same price off and on for a couple years. In most cases, when a home is undervalued, it will sell fairly quickly. But it's possible the true value has been overlooked, making this a great opportunity for you to purchase, flip, and make a nice profit? ... more
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Tue May 29, 2012
Danielle Whitson answered:
Silver Moss is a beautiful street on Kiawah. Recently, 3 Silver Moss went under contract, 4bed/4 Ba, just under 3000 sqft, and beautifuly renovated, with a fairway view. This home was listed for 1.295. Values on Kiawah vary according to view, location and condition so please keep in mind that this may not be a reflection of your properties value.

For a more detailed competitive analysis, please feel free to give me a call or email.

Best,
Danielle Whitson
Kiawah Island Real Estate Executive
... more
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Fri May 25, 2012
Bob Nitkewicz answered:
Walter,
While activity is up a bit recently, prices are still falling. As you must know, the fortunate sellers on Kiawah are those who don't "have" to sell therefore those owners can help stabilize prices. Those who "must" sell, do put downward pressure on the market. The PGA Championship, while many propose it will be a boom to the Island, will not likely have an immediate effect on sales, but rather a longer-term, positive impact on Kiawah and Seabrook. Thanks for your question.
Regards,
Bob Nitkewicz
... more
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Fri Oct 15, 2010
Danielle Whitson answered:
Kara,
It really varies and much depends on location, condition and amenities such as a pool. Some homes can produce more, some less than villas. There are different expenses such as you mentioned but not necessarily more...and you would not be pay the regime fees. Currently there are several distressed sales out there and if you picked up one of these, you could yeild a great cap rate. regarding lots, the number of transactions is down almost 50% year to year with prices averaging in the 2003 to 2003 range. Many of the lot sales this year are occuring in the 1M+ bracket.

If you can give me an idea of your overall goals, I can point you in the right direction. Also, cottages are another option, fee simple ownership, but also does have a small (as compared to villas) regime that takes care of some things.
... more
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Tue Jul 7, 2009
Danielle Whitson answered:
Frank, villas like all property on the island have experienced declines over the past three years. Currently we are experiencing a market adjustment of roughly 25-30% off the peak. As you know prices were at their highest in 2006 and have been doing a steady decline since then.

If you would like me to send you the villa sales for the past three years I would be happy to, just email me at danielle@DanielleWhitson.com.
... more
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Tue Jan 6, 2009
Steven Ellis answered:
Rick,

The challenge with most of the stats you have received is that 75% of all sales on Kiawah are not reported through our local MLS system. Furthermore the homes and villas can vary from $300k to $14m. For example, two $8m homes sold in early 2008 which caused the averages to swell. However, the average sales price in 2008 was off 15% to 27% from 2006 and 2007.

The three bedroom villas have taken more than a 20% hit.

I sold 9 villas on Kiawah in 2008 and most were priced like villas in early 2005 prior to the large jump in prices.

There are some heavily reduced villas on the market and over the past 3 weeks, we have seen a pick up in sales.

I hope this is helpful.

Steven Ellis
Kiawah Island Real Estate Specialist
Akers, Ellis & Truluck Real Estate
sellis@aetrealestate.com
843-814-1462
... more
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